De Beers Ends Lab-Grown Engagement-Ring Test
Lightbox, De Beers’ lab-grown diamond brand, has called off its trial of engagement rings, citing a lack of business prospects.
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New Botswana Deal Means De Beers Could Have Less to Sell
Following an often-bitter public squabble that both riveted and unnerved the diamond trade, De Beers and Botswana have reached an agreement in principle that includes a new 10-year sales deal and a 25-year renewal of the company’s diamond mining licenses when they expire in 2029.
State of the Diamond Industry: AI and the Future of Diamond Grading
Gemologists have long used machines in diamond grading but technology has made it possible for them to “learn” how to do it on their own.
De Beers Lowers Prices as Weak Demand Continues
De Beers has reduced prices of larger rough diamonds at this week’s sight and has offered increased flexibility as the slow market continues to affect manufacturers.
Educating consumers key to natural diamond sales: NDC
The Natural Diamond Council (NDC) will introduce an educational program for retailers after finding that imparting knowledge to consumers is key to increasing sales of mined stones.
Rio Tinto making $40M investment in Diavik diamond mine
The company is going underground at the A21 open pit, a move that will help extend the mine’s life into early 2026.
Russian diamond exports increased after Ukraine invasion, stats show
Despite U.S. sanctions, Russian diamond sales rose after the Ukraine war began, according to Kimberley Process (KP) statistics for the first half of 2022.
De Beers’ price hike exposes profitability concerns
Manufacturers are split on whether small diamonds deserved such a sharp increase.
De Beers’ Cleaver: Lightbox was “one of the scariest things I’ve ever done”
In part 2 of our exit interview with De Beers CEO Bruce Cleaver, he reviews the big events of his tenure, from Nirav Modi’s implosion to the COVID-19 pandemic to De Beers’ still-controversial introduction of lab-grown brand Lightbox.
The industry’s Russia crisis: the importance of Alrosa
The diamond market has yet to feel the full effect of the war in Ukraine. Initial predictions pointed to a potential supply shortage that would result from having Alrosa, with its large share of global rough production, off the market. However, those scarcities have not emerged significantly.
Sales decline at De Beers’ first sight of 2023
De Beers saw a slowdown in rough sales at its January sight, as clients were hesitant to buy at the start of the year.
De Beers Group rough diamond sales for cycle 1, 2023
Press release – De Beers Group [announced February 1] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the first sales cycle of 2023.